Kornitzer Capital Management Inc. KS Increases Stake in i3 Verticals Inc (NASDAQ:IIIV)

Kornitzer Capital Management Inc. KS boosted its stake in i3 Verticals Inc (NASDAQ:IIIV) by 28.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,000 shares of the company’s stock after purchasing an additional 15,000 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.26% of i3 Verticals worth $2,003,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in i3 Verticals by 50.7% during the 4th quarter. Bank of New York Mellon Corp now owns 27,261 shares of the company’s stock worth $657,000 after acquiring an additional 9,172 shares during the period. Northern Trust Corp lifted its position in i3 Verticals by 0.8% during the 4th quarter. Northern Trust Corp now owns 97,259 shares of the company’s stock worth $2,344,000 after acquiring an additional 794 shares during the period. Geode Capital Management LLC lifted its position in i3 Verticals by 62.3% during the 4th quarter. Geode Capital Management LLC now owns 79,656 shares of the company’s stock worth $1,919,000 after acquiring an additional 30,587 shares during the period. Confluence Investment Management LLC lifted its position in i3 Verticals by 73.1% during the 1st quarter. Confluence Investment Management LLC now owns 264,770 shares of the company’s stock worth $6,359,000 after acquiring an additional 111,781 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in i3 Verticals by 4,273.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,968 shares of the company’s stock worth $47,000 after acquiring an additional 1,923 shares during the period. 37.85% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have commented on the company. Zacks Investment Research raised i3 Verticals from a “sell” rating to a “hold” rating in a research report on Tuesday. BTIG Research set a $31.00 price target on i3 Verticals and gave the stock a “buy” rating in a research report on Friday, August 9th. Bank of America assumed coverage on i3 Verticals in a research report on Tuesday. They set a “neutral” rating and a $23.00 price target for the company. KeyCorp lifted their price target on i3 Verticals from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, ValuEngine lowered i3 Verticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.33.

In related news, Director David K. Morgan acquired 2,000 shares of i3 Verticals stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $21.35 per share, for a total transaction of $42,700.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory S. Daily acquired 84,800 shares of i3 Verticals stock in a transaction on Tuesday, June 11th. The shares were bought at an average price of $23.49 per share, with a total value of $1,991,952.00. The disclosure for this purchase can be found here. Company insiders own 56.20% of the company’s stock.

Shares of NASDAQ IIIV traded down $0.02 during trading on Friday, reaching $22.54. 15,463 shares of the company traded hands, compared to its average volume of 189,015. The firm’s fifty day simple moving average is $27.77 and its 200 day simple moving average is $24.88. The stock has a market cap of $585.92 million, a P/E ratio of 40.25, a PEG ratio of 1.53 and a beta of 0.22. i3 Verticals Inc has a 12-month low of $15.15 and a 12-month high of $31.44. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.61.

i3 Verticals (NASDAQ:IIIV) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The business had revenue of $36.01 million during the quarter, compared to analyst estimates of $35.02 million. i3 Verticals had a positive return on equity of 15.38% and a negative net margin of 0.36%. The company’s revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. As a group, research analysts expect that i3 Verticals Inc will post 0.69 EPS for the current year.

i3 Verticals Profile

i3 Verticals, Inc provides integrated payment and software solutions to small- and medium-sized businesses and organizations in education, non-profit, public sector, property management, and healthcare markets in the United States. The company offers payment processing services, including merchant onboarding, risk and underwriting, authorization, settlement, chargeback processing, and other merchant support.

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Institutional Ownership by Quarter for i3 Verticals (NASDAQ:IIIV)

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